One of the best inventions of the past decade or so is the digital video recorder—the DVR. The best one for Mac users is Elgato’s EyeTV HD. John Brownlee in Cult of Mac:
As a DVR, the EyeTV allows you to plug it into your satellite or cable box and record shows in high-definition H.264 video, which can easily be converted to iPad or iPhone optimized files when you plug it into your Mac’s USB port. If that’s too much work for you and you expect to watch a show on your iPad over your HDTV, you can opt to record in iPad or iPhone mode.
Sweet, but $199.